CFM Sale Act 1996
25Sale day for CFM
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25 Sale day for CFM
(1) If, in the opinion of the Minister, a particular day is the first day after the commencement of this Part on which a majority of the voting shares in CFM are or were acquired by a person, or persons, other than: (a) the Commonwealth; or (b) a nominee of the Commonwealth; the Minister must, by notice in the Gazette, declare the day to be the sale day for CFM. (2) The declaration has effect accordingly. (3) The notice must be published within 21 days after the sale day. (4) For the purposes of the memorandum of association and articles of association of CFM, this section is taken to constitute the kind of amendment to the Commonwealth Funds Management Limited Act 1990 referred to in the memorandum and the definition of “Overriding Principle” in article 1 of the articles.